Schneier on Security

Clive Robinson • October 16, 2025 8:20 AM

@ Bruce, ALL,

With regards,

“The companies behind the ATMs, at best, do not care about the harm they cause; the profits are just too good.”

This “lament” is such a repeated refrain with the “finance industry” it somehow does not seem fair to single out just one part of a small part of it…

These ATM’s are not really any more a scam that traditional ATM’s used abroad, accessed by “credit card”. Where banks use a whole series of dishonest techniques to take value from those who have been forced to use them by amongst others politicians.

But CryptoCoins are to be honest a “burn the house down” technology that was designed to prey on amongst other things peoples paranoia.

Whilst “officially” the jury is still out on the “Designed to facilitate Crime” aspect which enables certain people to exploit sections of the general public without facing prosecution…

But one thing is clear is the deliberate in built technology to push unlawful speculation.

Oh and consider the effect they have on devaluing other value holding technologies that are considerably more regulated due to historic criminal activities.

As a more general view the finance industry is mostly a collection of parasites,

“Taking an excessive percentage in fees whilst returning nothing in goods or services value.”

Which is why quite a few have repeatedly warned about CryptoCoins and Web3 and even the promoting shills the Venture Capitalists take inordinate value.

For those that think I’m being overly harsh, I recommend browsing Molly White’s site,

Web3 is Going Just Great :
…and is definitely not an enormous grift that’s pouring lighter fluid on our already smoldering planet.

https://www.web3isgoinggreat.com/